🚀 $SUI Technical Analysis May 21, 2025: PRICE CONSOLIDATING NEAR $3.81, TESTING SUPPORT ZONE 🔥
📊 Market Insight
• Current Price: 3.8142 USDT
• Moving Averages (MAs) are showing a neutral to slightly bearish trend, indicating the price is close to the longer-term average but struggling to regain upward momentum.
• Volume is moderate suggesting steady but not overwhelming market activity.
• MACD is bearish, with the DIF below the DEA, indicating continued downward pressure in the short term.
• RSI values are in the neutral territory.
📊 Important Levels to Watch
🔼 Resistance Levels:
4.0889
4.0051
3.9410
🔽 Support Levels:
3.7175
3.5842
3.5631
💡 TRADE PLANS:
🐂 Bullish Trade Setup: Breakout above $4.0051
☑️ Entry Point: $4.02 (enter if price breaks above 4.0051 with bullish momentum confirmation)
🎯 Price Target:
TP1: $4.0889
🛑 Stop Loss: $3.95 (below the current resistance to manage risk)
⚠️ Confirmation: Look for a strong bullish candle close above 4.0051, a spike in volume, RSI(6) rising above 50, and a MACD bullish crossover with the DIF moving above the DEA.
🐻 Bearish Trade Setup: Breakdown below $3.7175
☑️ Entry Point: $3.70 (enter if price breaks below 3.7175 with bearish momentum confirmation)
🎯 Price Target:
TP1: $3.5842
TP2: $3.5631
🛑 Stop Loss (SL): $3.75 (above the support level)
⚠️ Confirmation: Watch for a strong bearish candle close below 3.7175, a drop in volume, RSI(6) falling below 30, and the MACD deepening its bearish trend with the DIF staying below the DEA.
📌 Suggestion to Open Positions Today:
The price of SUI is currently consolidating around $3.81 after a recent decline from the $4.0051 high, with support holding near $3.7175. The bearish MACD and neutral RSI suggest caution, as the asset may be nearing oversold conditions. Traders should wait for a clear breakout above $4.0051 for a bullish setup or a breakdown below $3.7175 for a bearish play. Given the current volatility, tight risk management is essential.
